Cedi sells at 11.6501 to a Dollar per BoG rate on Thursday –

The Cedi is selling at 11.6501 to a Dollar as of Thursday, December 28. It is buying at GHc11.6385 to a dollar per the Bank of Ghana rate.

It is selling at 14.9110 to a pound while buying at 14.894. To the Euro, it sells at 12.9559  and buys at 12.9431.

These figures represent the average interbank rates used by commercial banks for the transactions at the close of Business Wednesday, December 27, 2023, the BoG said.

Earlier, Finance Minister Ken Ofori-Atta indicated while celebrating the economic recovery that the exchange rate has stabilized.

Mr Ofori-Atta said the government had turned the corner relative to the economic challenges when it successfully completed the first review of the 3-year 3 billion International Monetary Fund External Credit Facility (IMF-ECF) programme.

“We turned the corner when we completed the IMF first review,” he told Parliament while presenting the 2024 budget statement on Wednesday, November 15.

He further assured that the government is poised to “maintain stability and keep growing.  and ensure increased growth, currency stability”

“We turned the corner when inflation started declining from 54 1 in December to 35.2 in October 2023, he added.

“The recovery is indeed real and is here to stay,” he further assured.

Mr Ofori-Atta further stated that the prompt deployment of strong fiscal and monetary policy measures since the last year as well as in the first half of 2023 largely accounts for the continued economic recovery that is being experienced.

“So far, growth in 2023 has been more resilient than expected, inflation has declined in line with the fundamentals, the fiscal and external balances have improved, and the exchange rate has stabilised,” he said.